Fisheries Finance Program
Department Of Commerce, National Oceanic And Atmospheric Administration
Provides direct loans for certain fisheries costs. Vessel financing available for the purchase of used vessels or the reconstruction of vessels (limited to reconstructions that do not add to fishing capacity). Refinancing available for existing debt obligations. FFP loans are not issued for purposes which could contribute to over capitalization of the fishing industry. Finance or refinance fisheries shore side facilities or Aqua cultural facilities. Provides Individual Fishing Quota (IFQ) financ
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Helps fishery businesses get loans for buying or fixing fishing vessels and facilities. Also offers financing for buying fishing permits in overcapitalized fisheries.
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What Is This Program?
What Benefits Are Offered?
Provides long-term fixed rate loans for various costs in the fishing and aquaculture industries, including vessel and facility upgrades/purchases, acquisition of harvesting privileges or individual fishing quotas, and refinancing of related existing debt.
Who Is Eligible?
Business Size: small, medium, large
Industries: fishing, aquaculture
Region: National (US), Northwest (for Halibut/Sablefish quota), Bering Sea/Aleutian Islands (for Crab Fisheries quota)
Other Criteria: Operates in the fishing or aquaculture industry, Seeks financing for refurbishing, modernization, or purchasing of existing fishing vessels, fisheries facilities, or aquaculture facilities, Seeks financing for harvesting privileges in federally managed limited access systems (Catch Shares), Seeks financing for individual fishing quota in the Northwest Halibut/Sablefish and Bering Sea/Aleutian Islands Crab Fisheries, Seeks to refinance existing debt incurred for these purposes
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FAQFrequently Asked Questions
This program is available to small, medium, large businesses in fishing, aquaculture industries located in National (US), Northwest (for Halibut/Sablefish quota), Bering Sea/Aleutian Islands (for Crab Fisheries quota).
This program offers funding up to $12,000,000 (minimum $12,000,000).
This program accepts applications on a rolling basis.
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